Bitcoin Nears $100K As Institutional Confidence Grows

Bitcoin continues its march toward the elusive $100,000 milestone, hitting an all-time high of $99,850.

As it nears this psychological barrier, limit sell orders are being triggered, and many in the market believe it’s only a matter of time before Bitcoin crosses the six-figure threshold.

However, long-term Bitcoin holders appear to be taking a cautious approach. Since October, they have offloaded 128,000 BTC, indicating a wave of profit-taking as Bitcoin edges closer to the $100K mark. Whether this is cautious optimism or nerves taking hold, the market remains uncertain.

Meanwhile, a massive transfer of 31,000 BTC (valued at $3.038 billion at an average price of $98,000) to a cold wallet by Deribit signals institutional confidence in Bitcoin’s long-term prospects. By reducing liquidity, this move has bolstered bullish sentiment and underscored the growing faith of major players in Bitcoin’s future.

A massive 31,000 $BTC transfer to a cold wallet ($3.038B at $98K avg) shows Deribit’s confidence and long-term strategy.